Home / Ex-Finance Minister Ssendaula denies signing deal committing workers Savings to UMEME | NTV

Ex-Finance Minister Ssendaula denies signing deal committing workers Savings to UMEME | NTV

Ex-Finance Minister Ssendaula denies signing deal committing workers Savings to UMEME

Ten years ago, the government of Uganda signed a concession agreement with national power distributor Umeme with clear provisions committing workers savings to the company that had just been formed.

Ten years ago, the government of Uganda signed a concession agreement with national power distributor Umeme with clear provisions committing workers savings to the company that had just been formed. This emerged as senior Umeme officials appeared before the parliamentary select committee investigating alleged mismanagement in the National Social Security Fund.The Umeme officials said the then Finance Minister Gerald Ssendaula signed the agreement on behalf of government in 2004.

However, Sendaula has denied knowledge of any such agreement. The former finance minister, who is now a member of the Umeme board of directors,says he could not have signed an agreement committing NSSF funds to purchasing Umeme shares when the power distribution company was not willing to sale any shares at the time.